Norfolk Southern CEO optimistic about 2025 after solid fourth quarter
Norfolk Southern's solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they’re getting from Washington D
Norfolk Southern's solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they're getting from Washington D.C. — has the CEO feeling optimistic about 2025.
The railroad, based in Atlanta, earned $733 million, or $3.23 per share, in the fourth quarter. That's up from $527 million, or $2.32 per share, the prior year, helped by a couple of one-time items whereas the same quarter last year was weighed down by hefty derailment cleanup costs. The insurance payments Norfolk Southern is collecting during the fourth quarter related to the disastrous East Palestine, Ohio, derailment in 2023 and ensuing cleanup provided a $32 million boost, and some sales of rail lines added another $40 million to the bottom line.
Without those unusual items, the railroad would have earned $688 million, or $3.04 per share. That easily exceeded the $2.94 that the analysts surveyed by FactSet Research were predicting.
CEO Mark George said regulators from the Federal Railroad Administration, Surface Transportation Board and National Transportation Safety Board and members of Congress were all positive in recent meetings last week.
It appears that the Trump administration and the Republican-controlled Congress could ease restrictions on the industry instead of continuing to push for the changes President Joe Biden's Transportation Department had recommended after the 2023 derailment near the Ohio-Pennsylvania border.
“Everyone recognizes that we move the American economy. So we’re an integral, vital part of moving the American economy,”
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